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Fake US bonds worth trillions seized

February 17, 2012

The fake bonds were found in three safety deposit boxes in Zurich

Italian prosecutors say they have broken up an organised crime ring that was hiding trillions of dollars of fake US bonds.

Worth $6 trillion dollars, the bonds were found in false compartments of three safety deposit boxes in Zurich.

Italian authorities have arrested eight people and are investigating them for fraud and other crimes.

Prosecutors are not sure what the gang was planning but think they intended to sell the counterfeit bonds.

Investigators, based in Potenza southern Italy, say the fraud posed “severe threats” to international financial security.

In cooperation with Swiss police they tracked down three metal boxes at a warehouse in Zurich. The crates contained thousands of fake US bonds that gave the appearance they had been issued by the US Federal Reserve in 1934.

US officials confirmed that the bonds were counterfeit.

Fake US securities have been seized in Italy before and there were at least three cases in 2009.

But this case is on a different scale to previous investigations as the fake bonds have a value equivalent to almost half of the entire US debt pile.

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Hmmmm……..U.S. Financial Crisis in Early Fall of 2008; basically ushering Obama into office. Obama sworn into office in January 2009.

“Fake US securities have been seized in Italy before and there were at least three cases in 2009.

February 2012: “Fake Bonds worth $6 trillion dollars;the bonds were found in false compartments of three safety deposit boxes in Zurich. The crates contained thousands of fake US bonds that gave the appearance they had been issued by the US Federal Reserve in 1934.”